Preparation of multi-step income statement with net

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Reference no: EM13356592

Preparation of multi-step Income Statement with net income.

The 2007 income statement for Lozier Company is shown below:

Net sales	$189,060
Cost of goods sold	135,780
	53,280
General and administrative expenses	38,920
	14,360
Interest expense	240
	14,120
Income tax expense	5,648
	8,472
Discontinued operations	2,804
	5,668

Required:
a. What was Lozier's gross profit?
b. What was Lozier's income from operations?
c. What was Lozier's income before income tax?
d. What was Lozier's income from continuing operations?
e. What was Lozier's net income?

Reference no: EM13356592

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